Unlike the government, Senator Boxer, companies don’t have a monopoly on money printing presses. They can’t just create trillions of dollars ex nihilo. They have to live within a tight budget to keep their respective operations going, which doesn’t just involve paying their employees. How about trying to comply with a seemingly never-ending, but growing, list of regulations and taxes that are thrust upon them?
Taxes and regulations on businesses are a couple reasons our economy is in such a struggling mode right now. Many businesses can barely afford all the red tape. To stay afloat, businesses have to let people go, because they can’t afford to pay them. They have to cut people’s hours.
To make matters worse, the Senator from California wants to increase the minimum wage to $10 an hour. Currently, it’s $7.25 an hour. She said on MSNBC’s Ed Schultz Show:
“We need to raise the minimum wage. That will make a huge difference. … People are struggling. The difference between the very wealthy and the working poor has grown. We raise that minimum wage and we move forward with the vision of this president that we have, which is everyone pays their fair share” of taxes… There’s one word we always have to focus on and that’s ‘fairness’. Everyone has to do their part. I’ve spoken to people in California who earn a lot who were very anxious to help the country and their state. We’ve proven the point, you know, a rising tide lifts all boats.”
Does she really think raising the minimum wage will help people? What about the small businesses that can’t afford $10 an hour per employee? They’ll be forced out of business. Never mind all the Obamacare regulations that are being mandated.
I remember my first “real” job at an Eckerd photo lab. Back then, the minimum wage was $5.15 an hour. If it had been $10 an hour, there likely wouldn’t have been a job for me at all there.
All a rising minimum wage will do is shut down small businesses and hand the market over to giant corporations, awarding them a monopoly. They can afford all the regulations, the taxes, the red tape, the high minimum wages. Who do you think came up with all those rules in the first place? Big businesses (and the unions that work for them).